NASDAQ 100 Jumps Nearly 2% as Tech Stocks Lead Wall Street Rally

Lower crude prices provided additional support to US equities. West Texas Intermediate crude fell more than 4% to USD 95.90 a barrel, easing some concerns around inflation.

The US 10-year Treasury yield also moved lower, offering relief to technology and other growth stocks that remain sensitive to borrowing costs. The decline followed recent pressure on the bond market, which pushed the benchmark yield above 5%.

The S&P 500 rose about 1.2%, while the Dow Jones Industrial Average gained more than 200 points, or around 0.5%.

Also Read: US Stocks Fall as Treasury Yields Rise, NASDAQ and S&P 500 Slip